thankfully salary got sorted out at the start of the year thanks to a relocation, but I get a full 360 annual appraisal - structured critique by 10-12 colleagues, my boss, and myself, followed by a grueling 2hr review meeting.

although, i had my probation period shortened to 3 months instead of 6, so i've just had my first pay rise :) then it's reviewed again in January. You should have a really big moan at someone about that. What does your contract state?

Having to give feedback on your own performance, the performance of everyone else in your team, about 12 or so people outside of my immediate team, planning short medium and long term goals and projects for the next 12 months. What a hassle.

Being graded also determines the size of my bonus, and my pay rise. SO ultimately its worth it, but its a really drawn-out affair thats boring as hell at the time.

Also, how honest do you be when assessing your colleagues? "X is a hard-worker, but she's crap, so its pretty pointless really"